TIDMCTI
RNS Number : 6029J
Cathay International Holdings Ld
03 April 2018
Cathay International Holdings Limited
("Cathay", the "Company" or the "Group")
Lansen's third share reduction plan of Starry
Hong Kong, 3 April 2018 - Cathay International Holdings Ltd.
(LSE: CTI.L), an operator and investor in the growing healthcare
sector in the People's Republic of China (the "PRC"), today
announces that, Lansen Pharmaceutical Holdings Ltd ("Lansen")
(HKEX: 503), the Company's 50.56% owned subsidiary, has made a
regulatory announcement in accordance with the requirements of its
Hong Kong listing.
Lansen has announced its third share reduction plan (the "Third
Share Reduction Plan") in relation to its holding in the shares of
Zhejiang Starry Pharmaceutical Co., Ltd. ("Starry") ("Lansen
Announcement"). The full text of the Lansen Announcement can be
found at
http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0403/LTN201804031138.pdf
and will also be made available at the Announcements & Notices
section of Lansen's homepage at Lansen's homepage at
http://holding.lansen.com.cn//en/newslist.aspx?NodeCode=10002000700050005.
The Lansen Announcement states that Lansen Investments (Hong
Kong) Limited ("Lansen HK") and Full Keen Limited ("Full Keen")
notified Starry of the Third Share Reduction Plan, the key points
of which are as follows:
-- Maximum number of Starry Shares that can be disposed: not
more than 7,250,000 Starry Shares for Lansen HK and not more than
337,500 Starry Shares for Full Keen, representing not more than
6.323% of the total number of issued shares in Starry.
-- Share reduction period: from 30 April 2018 to 27 October 2018.
-- Methods of share reduction for Lansen HK: through (a) block
trade sales; (b) centralised competitive bidding system on the
Shanghai Stock Exchange; or (c) transfer agreement; provided that
total amount of share reduction through block trade sales and the
centralised competitive bidding system in any consecutive ninety
days period shall not exceed 2% and 1% of the total number of
issued shares in Starry respectively. Total amount of share
reduction through transfer agreement ranges from 6,000,000 shares
to 7,250,000 shares.
-- Methods of share reduction for Full Keen: through block trade
sales or centralised competitive bidding system to dispose not more
than 337,500 shares, representing not more than 0.281% of the total
number of issued shares in Starry.
-- Share reduction price: with reference to the prevailing
trading price of Starry Shares on the Shanghai Stock Exchange.
The Lansen announcement states, as at the date of the Lansen
Announcement, that 4,175,000 Starry Shares were disposed of under
the First Share Reduction Plan; no Starry shares were disposed of
under the Second Share Reduction Plan; and no definitive or legally
binding agreement relating to disposal of Starry Shares has been
entered into by Lansen or Lansen HK or Full Keen.
Further announcements will be made as appropriate, including any
necessary updates in relation to the Company's obligations as an
issuer whose shares are quoted on the Main Market of the London
Stock Exchange.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings Limited
Eric Siu (Finance Director) Tel: +852 2828 9289
Patrick Sung (Director and Controller)
Consilium Strategic Communications
Mary-Jane Elliott/ Matthew Neal / Lindsey Neville Tel: +44 (0) 203 709 5700
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the growing healthcare sector in the People's Republic
of China (the "PRC"). The Company and its subsidiaries
(collectively the "Group") aim to leverage on growth opportunities
in the strong and growing domestic demand for high quality
healthcare products in the PRC and build its portfolio companies
into market sector leaders with competitive edge. Cathay has
already demonstrated a strong track record of identifying high
growth potential investment opportunities in this area including:
Lansen, a leading specialty pharmaceutical company focused on
rheumatology and dermatology in the PRC; Haizi, a company engaged
in the manufacture, marketing and sale of inositol and its
by-product, di-calcium phosphate; Natural Dailyhealth, a company
engaged in production and sales of plant extracts for use as key
active ingredients in healthcare products; and Botai, a company
engaged in collagen products.
The Group employs approximately 2,000 people across the PRC,
including over 30 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment. For more information
please visit the Company's website: www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the mainboard of the Hong
Kong Stock Exchange, is a 50.56% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen is in the leading market
position in disease modifying anti-rheumatic drugs ("DMARDs") for
treatment of rheumatoid arthritis ("RA") in the PRC. Lansen has
established an extensive distribution network, covering more than
1,000 hospitals in four municipalities, 25 provinces and cities in
the PRC. For more information please visit the Lansen's website:
http://www.lansen.com.cn/en/index.aspx.
About Starry
Starry, whose shares are listed on the Shanghai Stock Exchange
(stock code 603520), is 12.65% owned by Lansen. Starry is
specialised in the research and development, manufacture, marketing
and sales of bulk pharmaceuticals and intermediates. One of the
core products of Starry is iohexol for X-CT non-ionic contrast
agents. Starry is the largest iohexol manufacturer in the PRC and
is experienced in the production management and quality control of
bulk pharmaceuticals. For more information please visit Starry's
website: http://www.starrypharm.com/en/index.aspx.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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